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Retail Bank Interest Rate Pass-Through : Is Chile Atypical?
Rebucci, Alessandro - 2003
This paper investigates empirically the pass-through of money market interest rates to retail banking interest rates in Chile, the United States, Canada, Australia, New Zealand, and five European countries. Overall, Chile''s pass-through does not appear atypical. Based on a standard...
Persistent link: https://www.econbiz.de/10014399635
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The Instruments and Operating Procedures for Conducting Monetary Policy in the Group of Five Countries
International Monetary Fund - 1989
, Germany, Japan, the United Kingdom, and the United States for implementing monetary policy in the short run. The analysis …This paper examines and compares the instruments and procedures currently employed by the central banks of France …
Persistent link: https://www.econbiz.de/10014396489
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Nominal Exchange Rates and Nominal Interest Rate Differentials
Nadal-De Simone, Francisco - 1999
This paper reexamines some unsettled theoretical and empirical issues regarding the relationship between nominal exchange rates and interest rate differentials and provides a model for the behavior of exchange rates in the long run, where interest rates are determined in the bond market. The...
Persistent link: https://www.econbiz.de/10014400414
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How loose, how tight? : a measure of monetary and fiscal stance for the euro area
Batini, Nicoletta; Cantelmo, Alessandro; Melina, Giovanni; … - 2020
This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and in its three largest member countries over the period 2007-2018. The index is based on the...
Persistent link: https://www.econbiz.de/10012251959
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Demographics and the natural rate of interest in Japan
Han, Fei - 2019
Japan's aging and shrinking population could lower the natural rate of interest and, together with low inflation … expectations, challenge the Bank of Japan's efforts to reflate the economy. This paper uses a semi-structural model to estimate the … impact of demographics on the natural rate in Japan. We find that demographic change has a significantly negative impact on …
Persistent link: https://www.econbiz.de/10012009291
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The cost of future policy : intertemporal public sector balance sheets in the G7
Koshima, Yugo; Harris, Jason; Tieman, Alexander F.; … - 2021
This paper compiles the Intertemporal Public Sector Balance Sheets for all G7 countries and examines their relationship with government borrowing costs. In 2018, all G7 countries have negative Intertemporal Net Financial Worth (INFW), falling short of their intertemporal budget constraint. A...
Persistent link: https://www.econbiz.de/10012613501
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Deer Hunting : Misalignment, Debt Accumulation, and Desired Equilibrium Exchange Rates
Taylor, Mark P. - 1993
This paper deals with hysteresis in the desired equilibrium exchange rate (DEER) arising from misalignment. When the actual real exchange rate departs from its DEER value, current account realizations--and consequently, debt service obligations--will differ from those assumed in the initial DEER...
Persistent link: https://www.econbiz.de/10014396472
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The Fisher Hypothesis and Inflation Persistence : Evidence From Five Major Industrial Countries
Peng, Wensheng - 1995
, and the United States than in Germany and Japan. It is argued that the differences in the linkage between the interest … recently developed time series techniques. The results suggest that the Fisher effect is stronger in France, the United Kingdom …
Persistent link: https://www.econbiz.de/10014395917
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Pushed past the limit? : how Japanese banks reacted to negative interest rates
Hong, Gee Hee; Kandrac, John - 2018
In this paper, we investigate how negative interest rate policy (NIRP) introduced in January 2016 by the Bank of Japan …
Persistent link: https://www.econbiz.de/10011878753
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The Zero Interest Rate Floor (ZIF) and its Implications for Monetary Policy in Japan
Laxton, Douglas - 2001
(ZIF) for the design of monetary policy in Japan. Similar to findings in other studies, targeting rates of inflation lower …
Persistent link: https://www.econbiz.de/10014401235